FOR REAL ESTATE INVESTORS
HOME SITES FOR SALE IN OTHER CARIBBEAN MARKETS
- PHENION ON THE RIDGE RESORT HOTEL CONDOMINIUM; Montego Bay, St. James Jamaica W.I. The demanded “HIP –STRIP” AREA. 236 suites of 2& 3 bed room units.
- SUNSET TOWN CENTRE, “HIP-STRIP” Montego Bay, Contiguous to the PHENION RIDGE HOTEL. Mainly commercial suites of offices and retail, a four screen Theatre/ which doubles as a cinema. With a 80 unit Suite Condo; virtual offices and conference centers
- PHENION AT LINCOLN; Lincoln/ Mandeville, Manchester 22 UNIT HIGH END Town Home Estate. Is both approved by Parish Council and NEPA. Gated 24 HOUR SECURITY. Designed for the security conscious business professional or Family. Large units designed with higher income bracket in mind. CAREIF as part of its developments strategy to enhance communities will be also developing the Lincoln Square cosmetically to ensure the highest quality neighborhoods. This is an excellent buy for Investors who will take advantage of the appreciation. The Estate has only 2 and 3 Bed Room with each bed room having its own Bathroom. Units vary between 22,000 - 36,000sq feet.
PARISH COUNCIL APPROVED DEVELOPMENT:-
- Wentworth Village is 56 lot development. Lots start at over half an acres in size. 17 LOTS will be available to other developers or investors for Estate Houses which they can sell to the end-user. Other sites will be used for a mix of Affordable Condos, Affordable Town Homes; Rental Apartments as well as hotel and villas for the local and international tourism product. Infrastructure work will be completed by September 2009. Open market sales will begin as early as March 2009.
The developments listed are all approved and are now seeking Funding through Joint Venture partners; financial institutions and or Developers interested in building. Expected to break ground by Mid 2009. BUILD OUT PERIOD IN 24-30 MONTHS. Open market sales to end-users will begin between March and June 2009. 1,200 square feet units will go on the open Market at Minimum USD$450,000.00
- Phenion On The Ridge ; Our Resort Hotel Condo Development has openings for 10-20 Joint Venture partners. JV Partners minimum contribution is at a minimum of USD$300,000.00. JV Partners will have First Right of Refusal once units go to open market sale. Contribution will be collateralized with a 1,200sq feet unit for each JV Partner. No minimum limit on number of positions up to 20. Individual Real Estate Investor or Institution Welcomes.
Restaurant; Spa and Gymnasium facilities available for providers, who wish to participate in design and final look of Facilities; should apply to This e-mail address is being protected from spambots. You need JavaScript enabled to view it or This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Only providers capable of providing five star quality services are being encouraged to apply.
Features include the following;
Perfect for The Real Estate Investor In You
Interior Design and Amenities
- Housing 1; 2 & 3 Bedroom Units starting from 1,200square feet–over 3,600 sq. feet; additionally there are six Penthouses of over 4,600sq feet. Minimum Investor Participation and Contribution USD$ 300,000-380,000.00, limited positions available. Successful Joint Venture Partners must provide; letter of intent, proof of funds as well as source of funds from a legally recognized financial institution , recognized under United States Federal Banking regulations and laws, before being accepted to partnership. For details e-mail request to This e-mail address is being protected from spambots. You need JavaScript enabled to view it and This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call 561. 839.9766
or 561. 401. 6399
- The Hotel Condo will have 20 stories and will be the Montego Bay’s “Hip-strips” first mid-rise structure in over 3 decades. The Complex will stand out as a land mark and an Icon for the Montego Bay and Jamaica Tourism Landscape. If as an investor you would like to have a most desired investment property, then The Phenion On The Ridge is certainly the one to grab.
- When sale of the units begin in June 2009, the price point for the smallest 1,200sqfet units will begin at USD$ 552,000.00. This is very competitive pricing when compared to both the cost per square foot and the size of the units to that of our closest competitor for a resort high end project is the Palmyra resort.
- The developer will be giving under its extended warrantee program a buy back guaranteed contracts at end-users buying or purchase price.
Amenities offered;
If you've been looking for the Premium and affluence of resort Celebrity Caribbean living, Phenion On The Ridge is without a question the most opulent Resort development planned for Montego Bay’s famous “Hip- Strip”. This area has become the premier entertainment spot for the tourism Mecca of Montego Bay and the Island of Jamaica whether you’re a looking for the active night life, laid back beach culture, souvenir shopping or a quiet evening dining at an international restaurant. If your preference if for local cuisine, there are several outstanding restaurants to meet the most discriminating globetrotter’s appetite. Each condominium offers stunning and dramatic views of the shimmering Caribbean, yachters, cruise lines and pleasure boast as the glide from east to west a-top the blue green Caribbean sea with absolute visibility and comes with every uncompromising service and amenity you've come to expect from a first-class, five-star resort. Phenion On The Ridge Offers a 360 degree view of Montego Bays Harbor, the Bay itself, Blue mountain views and jotting peninsula capped with white sand beaches, hosting affluent resorts and villas stretching from horizon to horizon.
Amenities include;
- Fully furnished interiors with luxurious European, American or custom designs.
- Spacious balconies with Caribbean vistas.
- Elegant Designer lobbies with cafés, DVD and Music libraries.
- Gymnasium and Spas.
- ½ mile elevated walking and jogging trail.
- State-of-the-art stainless steel appliances.
- Double oven and gourmet cook-top stove.
- 8 feet doors throughout.
- High ceilings
- Digital Cable
- Complementary phone service to the USA, CANADA, Europe, Porto Rico.
- Free internet access and hot spots for guests and residents.
- Ultra high-speed, wireless Internet access
- 42 inch Kitchen cabinets.
- Raised bathroom vanities.
- Granite counter tops.
- Marble window sills.
- Porcelain Tiles.
- Designer bathrooms.
- Wood floorings custom.
- Intercom system with piped music.
- High-end washer and dryer.
- Personal concierge for each residence.
- Private Chef and butler available.
- Fully furnished and maintenance-free with management contract.
- Fire wall built for quieting and sound control from neighbors.
- External Noise controls
- Solar/ renewable energy products optional.
- Fire safety equipment including smoke alarms.
- Recessed and designer lighting.
- Reserved Two Car covered Parking.
- Elevator to shopping and entertainment.
- Easy access to gaming lounges.
- Professionally landscaped Roof top Gardens and loungers.
- Architectural water feature and fountains.
- Two community Designer swimming pools.
- Walk to international restaurants.
- Walk to world famous Margarita Ville.
- Elevator to four Theatres hosting local and international productions.
- 24 Hour gated security.
- Membership to World famous Doctors Cave Beach Club.
- Complementary Shuttle service to & form Sangster International Airport.
- Access to visitor tour services.
- Baby sitting services.
- Easy on demand access to Emergency Care medical service and personnel.
- Access to 24 hour Pharmacy.
- Safety Deposit services.
- Access to financial services such as ATM’s and Wire services.
- Virtual offices; short term and or long term office facilities
- Conference facilities.
- Optional management services.
- HOA fees begins at USD$200.00 per month.
- Guaranteed Buy Back policy from Developer at minimum original purchase price.
The development and the current market offer several opportunities and advantages;
The advantages in the local market
- The price points for units are within the margins of the local real estate buyers, investors, and home-owners. Houses of the caliber being put on the market currently sell from US$500K and up.
- There is still a very strong demand for real estate in Jamaica both amongst local buyers as well as international residents who have a desire to own property there. Included in this group are Caribbean born immigrants to the USA; CANADA AND THE UK who have always displayed a strong desire to retire in Jamaica or at least have vacation property there. This is therefore an assurance that investors will not be stuck with a product that will not see realistic demand.
- There is a shortage of similar units on the open market in Jamaica and the Caribbean as a whole.
- Most commercial lenders dealing in mortgages are willing to provide funding for both locals as well as international buyers.
- The Jamaican government offers low cost financing to Workers while allowing them to co-borrow from other institutions. Having low interest rates and easy access to financing will be an advantage in terms of absorption.
- The fact that the project is a hotel condominium concept, in a high demand tourist rental market, will ensure that investors and end-users real estate will maintain its value and appreciate. The area is literally built out, with only a few parcels available for developments purposes. Scarcity of the product will positively affect appreciation.
- The developer will for the very first time in a hotel condominium allow owners to manage their own property. This will give them more control and possibly greater returns as they do direct marketing of their own units. This we believe will increase occupancy levels for those units if the owner is aggressively pursuing marketing of the units.
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- The owner will also be given the added advantage of operating or subletting their units even if the reside there. I.e. they can still take in guests on a short term or long term basis. For those owners who are looking for subsidy to their income or simply making extra money, while still enjoying their condo and the Caribbean hospitality experience, this will be an asset.
- Owners will larger units can therefore operate a Bed and Breakfast type operation. Again by increasing the flexibility of how owners can manage and occupy their units will increase the demand. The property can therefore be seen and function as a residence as well as an investment/ business.
- The fact that we are catering to professionals in business both local and international and the fact that there are also available commercial office condos and lofts will increase our demand. While there is obviously an advantage in operating your business where you live, there is also added advantage in having security to complement your lifestyle. There is high demand for real estate in gated secure communities especially amongst business professionals who have become more and more concerned with their personal safety between leaving work or their businesses and going home. This product will provide one solution to these concerns.
- CAREIF Ltd as a part of its warrantee policy will be offering a guaranteed buy back contract to original buyers, which can be transferred with a reassignment fee or resale contract. This will ensure that CAREIF has first refusal on premium units and will prevent the unit’s price form falling below original purchase price. Buyers will therefore have confidence that they will not be paying on a note above the re-sale value of the real estate, whether they bought it one year or 20 years ago. This buy back contract will be signed at point of purchases. Resultant cost associated to the extended warrantee program will be embedded in the selling price of the unit. A minimum fee (warrantee fee) will be charge for the additional warrantee.
- The development will attract government incentive programs which allow the tax free importation of all building material for the project, thus reducing the actual construction budget and cost.
- Developers and operators also have a 15 year tax free holiday on the property and its operations. Generating healthy long term income is highly likely.
- The hotel condominium concept could also offer the end-user a tax advantage. This is not giving tax advice and the prospective investor should seek out their own tax professionals to get advice especially when dealing across international tax regimes and jurisdictions.
- Having easy access to the airport with complementary shuttle pick up and drop off, conference facility within the complex, retail, entertainment and all the amenities of an upscale lifestyle will make this product as success.
- The Jamaican Government gives strong support to the Hotel and tourism sector via incentive programs and advertisements internationally. This gives a marketing advantage to any hotelier on the island.
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Contact Us
Our office is open from Monday to Friday, 8:30 AM - 4:30 PM. Give us a call at
CAREIF/RIC
4651 Babcock St NE
Unit 18-312
Palm Bay, FL 32905
CAREIF/RIC
Half Moon P.O.
Montego Bay,
St. James , Jamaica W.I.
USA : 561.839.9766
Jamaica: 876.409.5820
Or email us at information@careif.com.
Download documents
- /home/content/34/4715934/html/dmdocuments/CAREIF'S STRATEGY TO REBOUND THE US GLOBAL HOUSING CONSTRUCTION AND HOMESALES MARKET.pdf
- /home/content/34/4715934/html/dmdocuments/Entering into the Foreclosure Protection Plan.pdf
- /home/content/34/4715934/html/dmdocuments/Phenion Prospectus Part C.pdf
- /home/content/34/4715934/html/dmdocuments/Phenion Prospectus Part B.pdf
- /home/content/34/4715934/html/dmdocuments/Phenion Prospectus Part A.pdf
- /home/content/34/4715934/html/dmdocuments/PHENION PROSPECTUS.pdf
- /home/content/34/4715934/html/dmdocuments/PROSPECTS FOR Phenion Resort hotel Montego Bay.doc
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- /home/content/34/4715934/html/dmdocuments/RIC Prospectus[1].doc
- /home/content/34/4715934/html/dmdocuments/WELCOME TO CAREIF inner sanctum..doc